期刊名称：Journal of Applied Economics and Business Research
电子版ISSN：1927-033X
出版年度：2013
卷号：3
期号：4
页码：222-231
出版社：Journal of Applied Economics and Business Research
摘要：The theoretical argument for the effects of foreign capital on stock market depth is the fact that additional capital needs additional financial intermediation. Foreign investors would need to finance their investment with either external capital or by selling equity. However, the fact that foreign investors oftentimes list their companies global stock exchanges rather than domestic ones tends to be overlooked. This article surveys the evidence on the impact of foreign capital on domestic stock market development, comparing the findings of macroeconomic vs. microeconomic studies. We find little agreement between these studies and a great need for more comprehensive analysis and understanding of the channels of the impact.
